Security News
The widely distributed FluBot malware continues to evolve, with new campaigns distributing the malware as Flash Player and the developers adding new features. Once in the device, FluBot can steal online banking credentials, send or intercept SMS messages, and capture screenshots.
A critical part of that defense is establishing a secure communication infrastructure, using the principles of quantum computing. Europe's foray into quantum communication is extremely promising.
Two Belarusian nationals were arrested earlier this month in Poland on the suspicion they engaged in multiple ATM jackpotting attacks. The two are believed to have committed dozens of ATM jackpotting attacks in several European countries, stealing an estimated €230,000 in cash.
As the 4th Industrial Revolution continues to accelerate business demand for high-speed broadband and presence in the cloud, Lumen Technologies has expanded its fiber network infrastructure in Europe, strengthening its service capabilities in France, Switzerland and Spain. The infrastructure extends fiber reach in and between major hubs of business and finance, bringing connectivity to new cities and providing dense coverage in key areas to connect multiple enterprise buildings and third-party data centers to the robust Lumen network.
Growing adoption of cloud-based services is propelling the expansion of the European IT and business services market, with the region setting a new record for as-a-service spending in the second quarter, according to the latest state-of-the-industry report from ISG. The EMEA ISG Index, which measures commercial outsourcing contracts with annual contract value of $5 million or more, shows ACV for the combined market, which includes both as-a-service and managed services, reached $6.3 billion, up 31 percent against a soft quarter last year during the onset of the pandemic, and up 4 percent against the first quarter of 2021. "Europe has traditionally lagged behind other regions in its adoption of cloud-based services but now growth is accelerating," said Steven Hall, president of ISG EMEA. "COVID-related digital transformation has advanced cloud adoption by three to five years, and as-a-service ACV will soon surpass 50 percent of the market. We are near a tipping point."
Little will happen until and unless the European Data Protection Authorities begin to enforce Schrems II. One year after the so-called Schrems II decision was made by the European Court of Justice, little has changed. Participants should note that privacy activist Max Schrems is watching; and he is not known for giving up where he has the law on his side.
The Luxembourg's Quantum Communications Infrastructure project, coordinated by the Department of Media, Telecommunications and Digital Policy of the Luxembourg Ministry of State, and supported by the European Space Agency and the Luxembourg Space Agency under the Luxembourg National LuxIMPULSE programme, will create a secure communications shield against cyber threats based on quantum technology. To design the LuxQCI, Luxembourg has put in place a consortium comprising InCert, itrust consulting, LuxConnect, LuxTrust and the University of Luxembourg, that is led by SES's fully-owned affiliate SES Techcom.
Accelerating its push to aggressively grow global deployments and its market presence worldwide, NanoLock Security expanded its executive team to add deep utilities and security expertise with several new appointments including David Stroud who has joined NanoLock as GM of Europe and APAC. Stroud, who will be based in NanoLock's UK office, is an industry-recognized leader with over 15 years of deep international experience, along with direct expertise in the energy and metering sector - including through his successful tenure as executive director of EDMI Europe, a leading smart metering solution provider, and as general manager of Advanced Metering Services, New Zealand's largest metering provider. Stroud's presence in Europe and his highly relevant knowledge of this market will enable NanoLock to pursue further strategic partnerships in Europe and APAC with utilities and manufacturers.
A banking trojan named Bizarro that originates from Brazil has crossed the borders and started to target customers of 70 banks in Europe and South America. Bizarro is under constant development as its author keeps expanding the list of supporting banks and they modify it to improve anti-analysis protections.
Beyond Identity announced its expansion into Europe with a series of new hires to its sales, marketing and engineering team as well as a new Frankfurt data centre. Launched in April 2020 by Silicon Valley heavyweights Jim Clark and Tom Jermoluk, Beyond Identity has introduced a revolutionary passwordless identity management solution.